3 Technology Stocks Dragging The Sector Down

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Tim Participacoes ( TSU), down 2.6%, Telecom Italia SpA ( TI), down 2.2%, Telecom Italia SpA ( TI.A), down 1.8%, TELUS ( TU), down 1.5% and CenturyLink ( CTL), down 1.5%. Top gainers within the sector include Shutterfly ( SFLY), up 13.7%, Rackspace Hosting ( RAX), up 8.0%, Alcatel-Lucent ( ALU), up 4.1%, Qihoo 360 Technology ( QIHU), up 4.1% and China Telecom ( CHA), up 3.7%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. ASML ( ASML) is one of the companies pushing the Technology sector lower today. As of noon trading, ASML is down $0.82 (-0.9%) to $93.85 on light volume. Thus far, 270,918 shares of ASML exchanged hands as compared to its average daily volume of 967,900 shares. The stock has ranged in price between $93.36-$93.87 after having opened the day at $93.53 as compared to the previous trading day's close of $94.67.

ASML Holding N.V. designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of intercircuits worldwide. ASML has a market cap of $41.1 billion and is part of the electronics industry. Shares are up 1.0% year-to-date as of the close of trading on Tuesday. Currently there are 7 analysts that rate ASML a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates ASML as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full ASML Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Automatic Data Processing ( ADP) is down $0.61 (-0.8%) to $79.76 on light volume. Thus far, 508,343 shares of Automatic Data Processing exchanged hands as compared to its average daily volume of 1.6 million shares. The stock has ranged in price between $79.61-$80.35 after having opened the day at $80.01 as compared to the previous trading day's close of $80.37.

Automatic Data Processing, Inc., together with its subsidiaries, provides technology-based outsourcing solutions to employers and vehicle retailers and manufacturers worldwide. Automatic Data Processing has a market cap of $38.2 billion and is part of the computer software & services industry. Shares are down 0.5% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Automatic Data Processing a buy, 2 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Automatic Data Processing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Automatic Data Processing Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Crown Castle International ( CCI) is down $0.58 (-0.8%) to $74.10 on light volume. Thus far, 637,176 shares of Crown Castle International exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $73.69-$74.50 after having opened the day at $74.36 as compared to the previous trading day's close of $74.67.

Crown Castle International Corp., together with its subsidiaries, owns, operates, and leases shared wireless infrastructure in the United States and Australia. Crown Castle International has a market cap of $24.8 billion and is part of the telecommunications industry. Shares are up 1.7% year-to-date as of the close of trading on Tuesday. Currently there are 10 analysts that rate Crown Castle International a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Crown Castle International as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Crown Castle International Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

null

More from Markets

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker